Srilanka, Oct. 19 -- The Asian Development Bank (ADB) would like to see a much faster economic growth in Sri Lanka in the future than the current level of 4.8-5 percent, said Country Director of ADB Sri Lanka Resident Mission, Takafumi Kadono.

"Sri Lanka reaching the staff level agreement with the IMF and the upgrading of ratings by the three rating agencies are commendable," Kadono said, adding that going forward Sri Lanka needs to have a transformation and faster economic growth.

Addressing the "Voyage Sri Lanka 2025" maritime conference in Colombo last week, Kadono said that Sri Lanka needs to strengthen its external and fiscal buffers and foster a private sector-led growth in the country.

He said Sri Lanka has a wealth of resources...